The new version of Microsoft's Windows Phone, called Windows Phone 8, will bring data from any third-party financial application into its own "credit card app" called Wallet.

You can then use Windows Phone 8's wallet to make payments by tapping another phone or device with near field communication.

You can include just about any kind of card — like a frequent flier card or a credit card. Wallet will automatically populate itself with data from those third-party apps, like the Chase Banking app.

You can also use Wallet to make payments with those apps, view your credit card balance, and view transactions from those apps.

The whole thing is wrapped up and password protected — so it'll still have a layer of security that should prevent you from losing money if your phone is stolen.

You can find "deals" (the equivalent of coupons) in the Wallet application. It takes information from web searches, place cards, Windows Phone 8's maps application, from third party apps and from other Windows Phone 8 users.

The deals automatically show up in your Wallet, and you can share them or save them for later.

Unlike Google Wallet, it's using third-party applications to populate its Wallet — removing the need to have a separate account with Google.

The application works more like the new Passbook app in Apple's new iPhone operating system, coming out later this year.